Metro bank

[BlueSharp]

Metro aren't going to go bust, can everyone stop being over dramatic, the day to day side is fine.

They just made a cock up when it comes to the ration of capital to debt they hold (due to some Commercial debt being labelled BTL which is a different risk profile), they have asked shareholders for £350m to cover the difference and they've stumped up which has been reported to the stock exchange this morning.

If anyone has enough money in a single organisation at risk and they don't do a 30 second google to find out the facts they are morons, even for CUK.

If it all goes tits up I only have a mortgage with them so I will owe them money not the other way round

My Mortgage is also with them, all that will happen is it will be transferred on the same terms to someone else. There not going to the wall though, they just have an accounting error that needs dealing with.

[56samba]

They just made a cock up when it comes to the ration of capital to debt they hold (due to some Commercial debt being labelled BTL which is a different risk profile), they have asked shareholders for £350m to cover the difference and they've stumped up which has been reported to the stock exchange this morning.

I had a contract at M3trobank, I was config/building environments for a financial compliance project, turns out I was the first engineer in a good long time that could actually make it work properly. My contract was terminated before completion, no reason given. The PM had a tulipfit and raised it to board level to try and get me brought back. Apparently the FCA is not big on their list of priorities, unlike dogbowls in branches.

You say mistake, I say tomatoes.

[Eirikur]

Metro aren't going to go bust, can everyone stop being over dramatic, the day to day side is fine.

They just made a cock up when it comes to the ration of capital to debt they hold (due to some Commercial debt being labelled BTL which is a different risk profile), they have asked shareholders for £350m to cover the difference and they've stumped up which has been reported to the stock exchange this morning.

If anyone has enough money in a single organisation at risk and they don't do a 30 second google to find out the facts they are morons, even for CUK.

If it all goes tits up I only have a mortgage with them so I will owe them money not the other way round

Great a bank that can't count properly, let's all put our money in that one

[AtW]

Metro aren't going to go bust, can everyone stop being over dramatic, the day to day side is fine.

They just made a cock up when it comes to the ration of capital to debt they hold (due to some Commercial debt being labelled BTL which is a different risk profile), they have asked shareholders for £350m to cover the difference and they've stumped up which has been reported to the stock exchange this morning.

If anyone has enough money in a single organisation at risk and they don't do a 30 second google to find out the facts they are morons, even for CUK.

If it all goes tits up I only have a mortgage with them so I will owe them money not the other way round

Their whole market cap right now is less than 500 mln and they want to raise 350 mln

[Eirikur]

Share price is doing well, down 6.4% at £5 exactly
Was at £22 only 4 months ago

[PoH]

Was monitoring this from when the 'accounting error' news surfaced, it is now being discussed in forums like this and then the viral whatsapp message over the weekend resulting in queues in West London branches - Enough was Enough.

Starling app downloaded on Sunday morning, details filled in 5 minutes, Customer service chat response was quick for query on how long it will take to verify, verification completed by evening (the website says it was done by a human on a Sunday rather than some funky AI !), money moved over, Freeagent integration working like a treat and is instant (Metro always took a few days), App is immensely more user friendly - all in all very impressed with Starling.

Hopefully a crisis averted...

[AtW]

And that’s why proper banks are closed on weekends ...

[Zigenare]

Share price is doing well, down 6.4% at £5 exactly
Was at £22 only 4 months ago

Tulips <-- Ring any bells?

[Paddy]

My Mortgage is also with them, all that will happen is it will be transferred on the same terms to someone else. There not going to the wall though, they just have an accounting error that needs dealing with.

If a mortgage is taken over or sold to a third party then T&Cs remain the same however, if your bank goes phut, then the T&Cs disappear. In fact, the liquidators could demand the outstanding amount of the mortgage to be repaid on demand.

[Martin@AS Financial]

Metro Bank raises £375m in new funds to bolster finances:

Metro Bank raises GBP375m in new funds to bolster finances - BBC News